Yield management is a variable pricing business model based on understanding, anticipating, and influencing customer behavior in order to maximize revenue from a fixed, time-limited resource such as an airline seat, a hotel room, or advertising inventory. As a branch of revenue management focused specifically on inventory, it involves controlling that inventory strategically to sell the right product to the right customer at the right time for the right price, which can mean charging different prices to customers consuming an identical good or service. Robert Crandall, former chairman and chief executive of American Airlines, gave the practice its name and called it one of the most important technical developments in the history of transportation management.
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